1:27PM
Dutch pension fund to sue State Street over 120/20 fund
The US asset management company State Street is being sued by Dutch pension fund Stichting Pensioenfonds Medewerkers Apotheken (PMA) after a 120/20 strategy allegedly cost the fund a reported $76m.
The figure had been invested through the firm's Europe Edge Fund, a 120/20 European equities fund that sought to outperform the MSCI Europe Index by engaging in limited short-selling of securities. The Dutch pension fund accuses State Street of mismanagement and deceit, claiming the asset manager transferred ownership of all the fund’s securities to ill-fated Lehman Brothers without their knowledge.
Feb 3, 2010 at 13:27 in International, Kapitalanlagen | Post a Comment Email Article Print Article Share Article | Permalink
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